Stable Asset Poised for Value-Add
Following a value-add initiative, new ownership should be able to command rents of $1,004 ($1.35 psf), driving revenue by $90,000+ annually.
Current ownership invested significant capital to enhance the exteriors, allowing new ownership to focus on interior upgrades, which will directly translate to rent premiums.
High-Demand for Class-A Alternatives
There is a significant spread (~$0.80 psf) between rents at new, Class-A assets (built 2010+) and older properties throughout Southside. Silver Oak caters to this demand with its compelling location, amenities, and interiors.
Southside: Birmingham’s Premier Rental Submarket
Southside is Birmingham’s top rental submarket due to its proximity to Birmingham’s primary demand drivers: UAB (23,000 jobs & 21,000 students), the CBD (44,000 jobs), and the esteemed bars and restaurants throughout the area.
Silver Oak is located just a short walk from Birmingham’s premier entertainment, employment, and academic destinations.